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Oil prices surge as global demand tightens supplies
Oil hit a record as global demand rises and output threats loom in Nigeria and Iraq. Futures topped $50 a barrel while U.S. gasoline averages climb to about $1.92 a gallon. Diesel and jet fuel costs jump, sparking political debate on energy independence and rising winter costs for motorists and industries alike.
MENTIONED IN THIS ARTICLE
Mike Burdette
U.S. Energy Information Administration
Iraq
Nigeria
Ivan
New York Mercantile Exchange
United States
Energy Department
Pittsburgh
John Edwards
Bush
U.S
Saudi Arabia
George Bush
Dick Cheney
Edwards
Texas
Cheney
Halliburton Co
U.S. Senate
Pete Domenici
Rn.m
Senate
Congress
Kristi Lamb
Lawrence
Lamb
Kansas City